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Posted Mon, 06 May 2024 09:31:11 GMT by ncadman2
Last year I sold 2 buy to let properties. They were sold at a loss compared to original purchase price, and were each sold for less than £50,000. I believe no CGT is due, however do they need to be included on the self assessment tax return? I see something about a 50k limit, which each property is under, but I did sell two and wasn't sure if it was a cumulative amount?
Posted Thu, 16 May 2024 12:58:38 GMT by HMRC Admin 20
Hi ncadman2,
It is a cumulative figure.  You must meet both of these criteria, for the loss to be reported in a tax return.  
1 - you have to complete a tax return for any other reason and
2 - the disposal value exceeds £50000.  
If you do not meet both criteria, then you do not need to declare the loss.  
If you want to declare the loss, to carry it forward and set against a future gain, you have 4 year to report the loss, either in a tax return or in writing.
Thank you.

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